On 4 December 2014, EIOPA published a common application package for internal models under the Solvency II framework.
The aim of the package is to promote consistent supervisory practices for the application processes related to internal models. It will help insurers to understand the granularity of documentation and evidence that is required for the formal application process. It can also be used during the pre- application, in order to prepare for a future application.
The package consists of:
- an Excel template; and
an explanatory note with instructions on how to fill in the template.